9 of 1923 - A resolution directing Mayor and City Recorder to execute notes in the sum of $22,700.00 to the East i
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REMARKS: Resolution No.... r
By Commissioner He s ien,
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'I Author zing 7_ y or and City
.,! Recorder t0 P>;PCUtB T10t@S in tYJ�
;227Cono to the
sari o , , nst i
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Mill Creek ' er Co. for ex-
change of rater rig:ts.
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ROLL CALL
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VOTING AYE NAY Salt Lity,Utah, Oct. 9 tli, ,1923,
Barnes
Burton I move that resolution No. 9 by Mr. C ar.ene,.e...lies 1 e n
be adopted.
Green
Stewart
Mr. Chairman
Commissioner of W ter pply 1?i, Waterworks.
Result
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Commissioner C. CLARENCE ITEbLEN moved the adoption of the follew-
ing resolution: •
RESOLUTION.
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF SALE LAKE CITY, UTAH:
WHEREAS, on the 19th day of July.A. D. 1923, a written agreement was
entered into between East Mill Creek Water Company, a Utah Corporation, the
first party, and Salt Lake City, a municipal corporation of the State of Utah,
the'second party, in respect to the exchange of certain water rights owned and
controlled by said parties, and the construction of a certain water distribut-
ing system by said Salt Lake City referred to therein, and,
WHEREAS, it is provided in Paragraph 5 of Article 11 of said agreement
as follows:
"The city agrees to reimburse the company for the eeet of
construction of the aforesaid water distributing system in seven
equal annual installments with interest at 6 per cent per annum
-payable send-anbudlly on the balance unpaid, such payments to
be evidenced by legally valid interest bearing obligations 'of
Salt Lake dity to be delivered to the company in form satisfac-
' tory to it."
AND WHEREAS, it is now found and determined that the coat of Construct-
ing said water distributing system referred to in said Paragraph 5 of Article
11 of said agreement, will be the.sum of Twenty-two Thousand Seven Hundred
Dollars ($22,700.00).
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NOW THIRBE'ORE BE IT RESOLVED'AND'ORDNRED, by the Board of Commissioner
of Salt Lake City, Utah, as follows:
1. That said Salt Lake City, make, execute and deliver to said East
14i11 Creek Water Company its seven bonds for the aggregate sum of $22,700.00,
in seven annual installments as follows: $3,000.00 thereof on the first day o
October in each of the years A. D. 1924 to 1927 both inclusive; $3500.00 there-
of on the first day. of October in each of the years A. D. 1928 and 1929, and
$3700.00 thereof on the first day of October, A. D. 1930. Said bonds shall be
numbered from 1 to 7 both inclusive and shall bear interest at the rate of Six
per cent (6%) per annum from date until paid, payable semi-annually on the first
days of April and-October each year in accordance with interest coupons thereto
attached, both principal and interest.payable at Walker Brothers Bank in Salt
Lake City, Utah.
Said bonds and'each of them except as to amount and date of maturity,
shall be in substantially the following form to-wit:
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No.
$3.000.00
KNOW ALL MEN BY THESE PRESENTS:
That Salt hake City, in the County of salt Lake and State of Utah,
hereby acknowledges itself to be indebted and for value, received hereby pro-
mises to pay to bearer the.sum of Three Thousand Dollars (%3,000.00) in lawful
money of the United States on the first, day of October, A. D. 19 , at
Walker Brothers Bankers in Salt Lake City, Utah, with interest thereon at the
rate of six per cent (6%),per annum, from date until paid, payable semi-
annul-
ly in.like money on the first days of April and October in each year, said in-
terest to maturity being represented by interest coupons hereto attached.
This bond is .one of a series of seven bonds of like date, numbered
from one (1) to seven: (7) inclusive, for the aggregate sum of Twenty-two Thous-
and Seven Hundred.Dollars ($22,700.00).
It is hereby certified, recited and declared that the entire indebt-
edness of said City hereby incurred 1s not in excess of the taxes of said City
levied for the current year 1923.
It is hereby certified,-recited and declared that all conditions,
facts and things essential to the validity of this bond exist, have hiuppened and
have been dohs, and that every requirement of law-affecting the issue thereof
has been duly complied with, and that this bond is within every debt and other
limit prescribed by the Constitution and Laws of said State, and that'.the full
faith and credit of said Salt Lake Cit7 are hereby irrevocably pledged'to the
;punctual payment of the principal and interest Of this bond according to its
terms.
IN WITNESS WHEREOF, Salt Lake City has Caused this bond to be signed
by its Mayor, its corporate seal to be hereunto affixed, and attested by its
City Recorder, as of the first day of October, A. D. 1933.
Attestt
City Record .
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2. To each of said bonds shall be attached a coupon for eaoh installment
of interest, which said coupons:shall be conseoutively numbered, beginning with
number One (1), with the several dates of payment and number of bond and shall
bear the original or fae-simile signature of the City Treasurer which said cou-
pons shall be in substantially the following form to-wits
(Form of coupon for bonds numbered from 1 to 4 both inclusive.)
No. _-• $90.00.
On the first day of ip ober A. D. 192 , Salt Lake City, Utah, will pay
to bearer, at Walker Brothers Bankers in Salt Lake City, Utah, the sunof Ninet,•
Dollars ($90.00), in lawful money of the United States of America, being-six
months interest then due on its coupon bond dated October 1st, A. D. 1923.
Bond No.
City.Treasurer.
(Form of coupon for bonds numbered five (5) and six (6) both inclusive.)
No. . $105.00.
April
On the first day of October A. D. 192,__, Salt Lake City, Utah, will p=,
to bearer at Walker Brothers Bankers in Salt Lake City, Utah, the sum of One'
Hundred and five Dollars ($105.00) in lawful money of the United States of
America, being six months_interest then due on its coupon bond, dated October
lst, A. D. 1923.
Bond No.
City Treasurer.
(Form of coupon for bond numbered seven (7).)
Ho. 11 $111.00.
On the first day of Rae. A. D. 19_, Salt Lake City, Utah, will pay
to bearer at Walker Brothers Bankers in Salt Lake City, Utah, the sum of One
Hundred and Eleven Dollars ($111.00) in,lawful money of the United States of
America, being six months interest then due on its coupon bond dated October
let, A. D. 1923.
Bond No. .
City Treasurer.
Said bonds and.each:of them shall be signed by the.Nayor and attested by
the City Recorder and sealed with the seal of said City and the said coupons
shall bear the original, or fao-simile signature of the City Treasurer. Thd
Mayor of said City is hereby empowered and directed to sign and the City Recor-
der to sign and attest and, affix the seal of said City to each of said bonds,
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and the acts of said Mayor, and Recorder in so doing are and shall
be the act and deed of Salt Lake City.
3. BE IT FURTHER RESOLVED that in the opinion of the Board
of Commissioners it is necessary to the peace,health and safety of
the inhabitants of Salt Lake City that this resolution take effect
immediately.
This resolution shall take effect upon its passage.
4. Commissioner H. H. GREEN seconded the motion
for the adoption of said resolution and upon being put to a vote
was carried by the affirmative vote of all Commissioners present,
the vote being as follows:
Commissioner ARTHUR F. BARES "Aye"
Commissioner T. T. BURTON "Aye"
Commissioner H. H. GRAN "Aye"
Commissioner DR, H. R. STEWART "Aye"
Commissioner C. CLARE"CE PESLED "Aye"
ADOPTED AND APPROVED this 9th day of OCTOBER
A. D. 1923.
La or.
ATTEST•
i y order.
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STATE OF UTAH )
(SS.
SALT LAKE COUNTY )
I, W. A. Leathern, City Recorder in and for Salt Lake City, Utah, do
hereby certify that the above and foregoing is a full, true and correct copy
of proceedings had by the Board of Commissioners of Salt Lake City, at its
meeting held on the 9th,day of October A. D. 1923, in so far as the same
relate to or concern the issuance of its bonds in the sum of $22,700.00 to East
Mill Creek Water Company as the same Appears of record is my office.
Iff WITRES9 WHEREOF, I have hereunto set my hand and affixed the cor-
porate seal of said City this 9th .day of • Octobex , A. D. 1923,
City Recorder.
(SEAL)